C&C International: Q1 2026 Revenue Up, Operating Profit Down
Consolidated Q1 2026 revenue: KRW 70.8B (+7.4% YoY); operating profit: KRW 3.0B (down 46% from KRW 5.6B in Q1 2025).
Net profit increased 25% YoY to KRW 5.1B, driven by financial gains from early redemption of convertible bonds.
Early redemption of all KRW 30B convertible bonds (Feb 23, 2026); resulted in a KRW 1.8B loss on redemption but eliminated dilution risk and improved leverage.
R&D expense ratio increased to 3.04% of sales (vs 1.67% in 2025).
Strong balance sheet: cash and equivalents KRW 159.7B, zero net debt (negative net debt ratio).
Articles amended to strengthen independent directors (≥1/3 board), introduce electronic voting and remote shareholder meetings.